The number of vessels hit by sanctions has surpassed 1,000 with data from S&P Global Market Intelligence showing that more 800 of these ships do not have confirmed insurance. Moreover, the average age of sanctioned ships – 21 years – is some eight years older than the global average, adding to growing concern that the […]
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The US on Friday announced the most sweeping and aggressive sanctions yet on Russia’s oil trade, just ten days before Joe Biden leaves the White House to be replaced by Donald Trump as president. If they stay in place under Trump, the measures have more chance of disrupting Russia’s exports of petroleum than anything done […]
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Data source: Bloomberg, L.P. Note: A front-month contract is a futures contract that is the closest to expiration. Benchmark Brent crude oil futures prices averaged $80 per barrel (b) in 2024, $2/b less than in 2023. Intraday prices stayed within a $24/b range, between $68/b and $93/b (after rounding), which was the narrowest trading range since 2019. […]
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Western officials have told Indian companies to “carefully evaluate their exports” to Moscow to avoid being sanctioned Officials from the US and EU have urged Indian exporters to evaluate their trade with Russia carefully to ensure compliance with their sanctions, according to a report by the Hindu Business Line. The outlet’s sources said that […]
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The restrictions target two major Russian producers, along with what Washington calls a “shadow fleet” transporting Russian oil The US Treasury on Friday announced a fresh round of sanctions against Russia, imposed in conjunction with the UK. The restrictions target Russia’s oil industry, including two major producers – Gazprom Neft and Surgutheftegaz – as well as their […]
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Crude oil prices were flat on the day, after the U.S. Energy Information Administration reported an estimated inventory draw of 1 million barrels for the first week of 2025. The authority also estimated builds in fuel inventories but both gasoline and diesel stocks remain below the five-year average. The crude inventory draw compared with another modest of 1.2 million […]
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Shearwater Norwegian offshore seismic vessel player Shearwater Geoservices has started the second acquisition season for the Pelotas Basin multi-client 3D seismic survey offshore Brazil. This new acquisition, conducted in partnership with Searcher Seismic, will be the sixth multi-client 3D project for the joint venture and will utilise the SW Empress vessel to expand the Pelotas […]
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The Joint Expeditionary Force (JEF) has activated an advanced UK-led reaction system to track potential threats to undersea infrastructure and monitor the Russian shadow fleet, following damage to a major undersea cable in the Baltic Sea. The JEF is a UK-led Northern European multinational military partnership. The tanker Eagle S which is part of the […]
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Equinor UK and Shell UK are joining forces to create the UK North Sea’s largest independent oil and gas producer. Combining their offshore assets and expertise into a 50/50 joint venture, the new company will focus on sustaining domestic oil and gas production, ensuring the UK’s energy security and maximising the value of the maturing […]
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In the Energy News Beat – Conversation in Energy with Stuart Turley, talks with George McMillan delves into the intricate relationship between energy, geopolitics, and global strategy, exploring how energy infrastructure, such as pipelines, shapes regional stability and global alliances. The discussion examines key dynamics, including Russia and China’s energy integration, Middle Eastern tensions like […]
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